Elon Musk's SpaceX Extends Record Run With Biggest Options Debut Ever

Just days after delivering the largest initial public offering in history, Elon Musk-led SpaceX has added another record to its growing list of milestones.

Options linked to SpaceX shares witnessed the busiest first day of trading ever recorded for a newly listed company, with investors exchanging around 1.8 million contracts, according to a Reuters report. The figure comfortably surpassed the previous record of roughly 364,000 contracts set by Meta Platforms following its 2012 stock market debut.

The unprecedented activity highlights the intense interest from both retail and institutional investors in the company, which has rapidly emerged as one of the world's most valuable publicly traded firms.

$266 Bn Worth Of Options Premium Changes Hands

The options frenzy translated into an estimated $2.8 billion (around ₹266 billion or ₹26,600 crore at ₹95 per dollar) in options premium changing hands during the first session alone.

Market participants were particularly active in call options tied to potential share price targets of $300 and $380, indicating that many traders are betting on further gains in the stock.

Call options give investors the right to purchase shares at a predetermined price before a specified date and are often used to express bullish views on a company's future performance.

SpaceX Overtakes Amazon

The record-setting options debut comes as SpaceX continues to surge after its blockbuster IPO.

The company raised approximately $75 billion (around ₹7.13 lakh crore) through its public offering, making it the largest IPO ever and eclipsing the previous global record set by Saudi Aramco in 2019.

Shares were priced at $135 but jumped nearly 19% on their first day of trading to close at $160.95. The rally has continued since then, with the stock gaining more than 60% from its IPO price and touching levels around $225.

On Tuesday, shares rose another 4.8%, lifting SpaceX's market capitalisation to approximately $2.65 trillion (about ₹251.8 lakh crore), allowing it to overtake Amazon and become the world's fifth-largest listed company.

At its intraday peak, SpaceX briefly surpassed Microsoft to become the fourth-largest company globally before giving up some gains.

The rapid rise in SpaceX shares has significantly boosted the wealth of Elon Musk, whose fortune has climbed sharply following the listing.

According to estimates cited in recent reports, Musk's wealth has moved beyond the $1 trillion threshold, making him the first person in history to achieve trillionaire status, largely driven by his ownership stake in SpaceX.

Limited Free Float Fuels Volatility

Analysts believe part of the stock's explosive move can be attributed to the relatively small number of shares available for trading.

Only around 4.2% of SpaceX shares were available in the public float at the time of listing, creating a supply-demand imbalance that has amplified price swings.

A limited float often increases volatility, as strong buying demand can move prices sharply higher while also making the stock vulnerable to rapid corrections.

For now, however, investor enthusiasm remains firmly intact, with record-breaking options activity suggesting that traders continue to bet on further upside for one of the most closely watched stocks in global markets.